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The following is an instructable on making a wooden ring out of teak at Techshop RDU. These rings can be made out of any hardwood, but teak is both water resistant and strong enough to remain intact, even with a slender profile.  

Take a look at the Etsy.com website I just put up:

Step 1:

I started with a 3/4" forstner bit. Pick out a size that is good for you. If it's a little too small, you can sand it open further in the production process.
can u help me. my wooden ring just broke to half. how to fix it? do i have to glue it. any advice.
I made mine out of a piece of redwood and it turned out great. It took a little over an hour.
would apple be a good choice because i have a lot of it
<p>Follow up... Shortly after posting my comment my redwood ring broke into several pieces. My new one made of WALNUT (I think that's a hard wood) has held up fine. The stain is drying right now...</p>
<p>I've tried walnut in a few small wood applications like this, but they tend to break along the prominent grain-lines. May have better luck with brazilian ipe. I made one for a friend like that, and you couldn't break it if you tried. Best of luck.</p>
It looks great. :D
Thanks, and nice ears.

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More by RaleighBKV:Made it at Techshop-Rubber Stamping Pad for Business Cards Made it at TechShop RDU- How to refurbish an Old Skateboard I Made this at TechShop-How to Make a Wooden Ring (Teak) 
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